CMB.TECH (NYSE:CMBT) Sees Large Volume Increase - Time to Buy?

Key Points

• CMB.TECH experienced a significant trading volume increase of 121%, with approximately 1.27 million shares changing hands on Tuesday.
• The company has been recently downgraded to a "sell" rating by Wall Street Zen, following underperformance in earnings results.
• A special dividend of $0.05 per share is set to be distributed to stockholders on October 9th, with an ex-dividend date of October 2nd.

Shares of CMB.TECH nv (NYSE:CMBT - Get Free Report) saw an uptick in trading volume on Tuesday . 1,274,333 shares traded hands during mid-day trading, an increase of 121% from the previous session's volume of 576,475 shares.The stock last traded at $9.80 and had previously closed at $9.50.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered CMB.TECH from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

CMB.TECH Trading Up 2.9%

The stock has a market capitalization of $1.88 billion, a PE ratio of 7.78 and a beta of 0.04. The firm has a 50 day moving average price of $9.03 and a 200 day moving average price of $9.10. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98.

CMB.TECH (NYSE:CMBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). The company had revenue of $387.81 million during the quarter, compared to analysts' expectations of $259.00 million. CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.

CMB.TECH Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, October 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 2nd.

Institutional Trading of CMB.TECH

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH during the second quarter valued at approximately $27,000. State of Wyoming purchased a new stake in shares of CMB.TECH during the fourth quarter valued at approximately $37,000. Legal & General Group Plc increased its position in shares of CMB.TECH by 221.3% during the second quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock valued at $59,000 after acquiring an additional 4,497 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of CMB.TECH by 27.5% during the first quarter. SBI Securities Co. Ltd. now owns 6,934 shares of the company's stock valued at $63,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new stake in shares of CMB.TECH during the second quarter valued at approximately $98,000.

About CMB.TECH

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.